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Kennedy Information - Global Consulting Market 2014
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Kennedy Corner

  • »It’s a Floorwax... It’s a Dessert Topping... Actually, it’s Both!
    There are few sure things in the world. One might cite death and taxes, but only slightly down the list is the inevitable answer a Big Four consultant provides to the question “What is your firm’s strength?” Everything, of course.
  • »Show Me The Money
    Management consulting is a cash business. Now salaries and bonuses within the consulting industry are certainly not at the stratospheric levels enjoyed by their kindred brethren in investment banking. But consultants generally do realize much-better-than-average wages relative to their counterparts in the corporate world.
  • »Will ‘Knowledge Workers’ (Consultants) Be Replaced by Machines? It’s Possible
    The management consulting industry to date has been largely unscathed by the wave of technological change. However, there are signs that digital technologies are now beginning to disrupt the management consulting industry as well, with potentially deep and far-reaching consequences.
  • »A Force in Consumer Banking
    Banks have been stepping up their customer satisfaction game in recent years against the typical market forces at play. The pace of change has been head-spinning for an industry not well known for its swift response to customers.
  • »Time To Simplify and Get Organized (Well, At Least Your Cloud Services)
    The practice of adding cloud services in silos and based on specific department needs often results in overlapping and many different contracts with the same vendors.
  • »Riding the Waves of Healthcare Risk
    The modern healthcare system is much like the ocean—stormy, choppy, and hostile at times, soothing, calm and inviting at others. For surfers, the more waves you go for, the more you will catch, and the more likely you’ll “wipe-out.”
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Travel Advisory

  • »Survey: Consultants Are On the Road Again
    After years of fits and starts in an uncertain economy, travel is back in the consulting profession, at least according to the results of our annual Best Places to Stay survey.
  • »Marriott Goes Big in NYC
    Marriott International, Inc. and G Holdings opened what they’re calling an “iconic addition” to the New York skyline, a combined 378-room Courtyard hotel and 261-suite Residence Inn hotel in midtown Manhattan. The $320 million, 68-story property is the tallest single-use hotel in North America.
  • »Best Places to Stay: Travel Bounces Back
    Consultants are on the road again, at least according to the results of our annual Best Places to Stay survey.
  • »FAA: ‘Staffing Challenges’ Causing Delays
    In case you haven’t noticed, non-weather related delays at U.S. airports are on the rise. (And I know you’ve noticed that weather-related delays are definitely on the rise.)
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Book It!

  • »Q&A: Keeping It Simple
    BCG’s Six Simple Rules sets out to simplify some organizational complexity.
  • »Review: Leading the Life You Want
    It seems that everyone has an opinion on work/life balance these days, but Stewart D. Friedman’s Leading the Life You Want isn’t necessarily one of them.
  • »Review: The Culture Map
    Globalization led to the rapid connection of internationally based employees from all levels of multinational companies, and now those same employees are expected to collaborate with colleagues scattered all over the world.
  • »Review: Twitter is Not a Strategy
    Today’s digital frenzy has led many to declare that advertising is dead… or at least dying. Is it?
  • »Excerpt: Procurement as Productivity
    The following is an excerpt from the book Procurement 20/20: Supply Entrepreneurship in a Changing World by a quartet of McKinsey & Company consultants—Peter Spiller, Nicolas Reinecke, Drew Ungerman and Henrique Teixera.
  • »Review: The Risk-Driven Business Model
    Most companies focus their innovation on new products.
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2 2 2009
»Where They Are Now: OW Co-Founder Launches a New Wyman
By Eric Krell

Bill WymanConsultants face two hurdles in retirement: working too little or working too much. “Going from deep involvement and a lot of activity to relaxing and playing golf is really not a good idea, mentally or physically,” says Oliver Wyman co-founder Bill Wyman, who retired from his firm in 1995. “I think you need to remain involved and maintain a drive to achieve in order to continue to thrive. ... The challenge is how to do the right amount of that.”

Wyman’s quest for retirement-life balance involves serving as a counselor to CEOs, a director on several corporate and nonprofit boards and
leading Wyman Worldwide Health Partners, which has greatly improved the quality of primary care tens of thousands of Rwandans receive in rural parts of the East African country.

Wyman’s retirement began with the same sort of introspection that first propelled him into consulting following Colgate, naval service and Harvard Business School. Acting on a recommendation by a career-management author, Wyman filled 40 notebook pages with memories of activities that he liked and disliked throughout his young life. A clear pattern emerged. “I noted what I liked and compared these interests with jobs that were available,” he recalls. “Consulting pretty much fell out as the clear winner.”

For Wyman, the profession remained that way for 30-plus years. “I was always happy in consulting,” he emphasizes. He began his career with the commercial side of Booz Allen Hamilton and was quickly elected partner. Wyman later became the head of all North American management consulting for BAH and a member of the management committee. In 1984, after 20 years with Booz, he and colleague Alex Oliver left the firm to launch their own highly successful consultancy, Oliver Wyman.

After a decade at the helm, Wyman felt the need for another round of introspection. At his wife’s urging, he participated in a Harvard program designed for professionals approaching retirement.

One exercise captivated Wyman. The class was given colored markers and an easel to diagram their lives. “Mine was a two-dimensional graph,” he recalls. “And I said to myself, ‘You’ve taken all of the emotion out of your life.’ It changed the way I looked at things. I said, ‘I’m going to retire, and I’m going to start living a different life.’”

And that’s just what he did. Since then he has served on 18 different corporate, private equity and non-profit boards, including the board of the Dartmouth Hitchcock Medical Center.

The Dartmouth experience served as a useful primer for another endeavor: About six years ago, while his wife was working to help preserve the habitat of mountain gorillas in East Africa, she became interested in helping Rwandan people enduring difficult conditions. Wyman helped her research methods to provide the most effective support possible, and they settled on improving the delivery of primary health care in rural parts of the country. More research ensued, and they settled on a model, which the Rwandan government learned about. Two years ago it asked Wyman Worldwide Health Partners (http://wwhps.org) to manage a health clinic that serves 17,000 Rwandans.

The  model “turned out to be a huge success, and the government asked us to take over a second clinic covering an additional 30,000 people,” Wyman reports. “We’re at the point that we have a pretty good model for how to deliver healthcare in rural areas.”

He also has an idea of how to spend retirement: pursuing challenging activities that bring him pleasure while finding ways to bring hope to people’s lives.

For more on the Wyman Worldwide Health Partners story, visit www.clinicsrising.com.
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